By Lawrence Delevingne (Reuters) -U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession. The pound was little changed at $1.071 after sterling collapsed to $1.0327 on Monday on…
Government lawyers used airline executives’ own words in trying Tuesday to persuade a federal judge to kill a partnership between American Airlines and JetBlue Airways. The government argued that the deal is, in effect, a merger that will cost consumers $700 million a year in higher fares. It said JetBlue’s pending purchase of Spirit Airlines…
(Reuters) – Digital financial assets require appropriate regulations to ensure a level playing field and protect consumers, Federal Reserve Chair Jerome Powell said on Tuesday. “Within the decentralized finance ecosystem there are these very significant structural issues around the lack of transparency,” Powell said during a panel discussion on digital finance organized by Banque de…
LOUISVILLE, Ky. (AP) — Ford will invest $700 million mainly at its Kentucky Truck Plant in Louisville, creating about 500 new jobs over the next four years. The company made the announcement Tuesday after a state board approved incentives for Ford’s investment in the state. Most of the money will go to retool the truck…
For months, Catholic Charities of Southeast Texas has had to waitlist families hoping to join a food pantry program, as the nonprofit and other charities have struggled to meet soaring demand amid rising food prices and the end of federal pandemic relief aid. The families who frequent the food bank, which is stocked like a…
By Silke Koltrowitz ZURICH (Reuters) -Credit Suisse announced the departure of two senior executives, global co-head of banking Jens Welter and global head of global credit products Daniel McCarthy, in memos seen by Reuters, in a blow to the Swiss bank as it gets ready for a major restructuring. Shaken by a string of scandals…
By Lucia Mutikani WASHINGTON (Reuters) – New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment despite higher interest rates, which could keep the economy on a moderate growth path. Some of the largest gain in orders in seven months reported by the Commerce…
DOVER, Del. (AP) — A Delaware judge on Tuesday ordered attorneys for billionaire Elon Musk to create a log of certain documents that relate to former Twitter security chief Peiter “Mudge” Zatko but not directly to Zatko’s whistleblower complaint against the social media giant. The ruling came near the start of a three-hour hearing on…
By Jonathan Stempel (Reuters) – Oracle Corp will pay about $23 million to resolve charges its units in Turkey, the United Arab Emirates and India used slush funds to bribe foreign officials in order to win business, the U.S. Securities and Exchange Commission said on Tuesday. The case covered alleged wrongdoing from 2014 to 2019,…
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that stablecoins will need greater regulation as they become more widely used by consumers. Powell also said, in virtual remarks to a conference on digital finance in Paris, that the Fed hasn’t yet decided on whether to proceed with a digital dollar. The Fed’s sharp…
